Cyprus property sales jump 27% in August-data

Cyprus' real estate market performed strongly in August, with property sales 27% higher than year ago levels, figures from the Cypriot Department of Land and Surveyors showed Tuesday.

Data showed that 572 contract sales were registered across the small Mediterranean island, as opposed to 451 in the same month a year earlier.

The growth in sales reflects a substantial recovery in the local property sector, which has been recovering steadily since Cyprus' banking crisis in 2013.

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Cypriot monthly property sales in June and July hit 18% and 28% respectively.

In August, the largest growth was booked in the southern city of Limassol, where 201 properties were sold, versus 129 in 2016.